Entropy Technologies LP Sells 16,579 Shares of Braze, Inc. (NASDAQ:BRZE)

Entropy Technologies LP trimmed its stake in Braze, Inc. (NASDAQ:BRZE) by 72.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,200 shares of the company’s stock after selling 16,579 shares during the period. Entropy Technologies LP’s holdings in Braze were worth $201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Comerica Bank raised its holdings in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the period. Blair William & Co. IL raised its stake in shares of Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after acquiring an additional 283 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after acquiring an additional 290 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Braze by 1.2% in the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after acquiring an additional 310 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Trading Down 3.9 %

Shares of BRZE opened at $35.06 on Monday. The firm has a market cap of $3.60 billion, a P/E ratio of -29.71 and a beta of 1.03. The stock’s 50 day moving average is $32.83 and its two-hundred day moving average is $37.58. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) EPS. Equities research analysts forecast that Braze, Inc. will post -1.02 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This represents a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,161 shares of company stock worth $5,800,781 in the last 90 days. Insiders own 24.03% of the company’s stock.

Analyst Upgrades and Downgrades

BRZE has been the topic of several research analyst reports. Barclays cut their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. JMP Securities restated a “market outperform” rating and set a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. UBS Group lowered their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. The Goldman Sachs Group dropped their target price on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus began coverage on shares of Braze in a research note on Tuesday, October 22nd. They set a “buy” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.47.

Braze Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.